Key Points
- Nexstar Media Group EVP Lee Ann Gliha sold 742 shares on May 27 at an average price of $187.32, totaling about $138,991. The sale reduced her direct stake by 3.96% to 17,988 shares.
- The company said the transaction was made to cover tax withholding obligations tied to vesting equity awards, suggesting the sale was routine rather than a discretionary bearish move.
- Several other Nexstar insiders also disclosed share sales around the same time, which may weigh on investor sentiment even though the filings indicate the trades were related to equity vesting.
Nexstar Media Group, Inc. (NASDAQ:NXST - Get Free Report) EVP Lindsey Knapp sold 92 shares of the firm's stock in a transaction dated Wednesday, May 27th. The stock was sold at an average price of $187.32, for a total value of $17,233.44. Following the sale, the executive vice president directly owned 1,160 shares of the company's stock, valued at $217,291.20. This trade represents a 7.35% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards.
Nexstar Media Group Stock Down 1.5%
Shares of Nexstar Media Group stock opened at $185.12 on Thursday. The firm has a market cap of $5.65 billion, a price-to-earnings ratio of 39.73, a P/E/G ratio of 0.51 and a beta of 0.97. The company has a debt-to-equity ratio of 5.53, a current ratio of 1.76 and a quick ratio of 1.76. Nexstar Media Group, Inc. has a 52-week low of $164.00 and a 52-week high of $254.30. The stock has a 50-day simple moving average of $199.35 and a 200-day simple moving average of $207.96.
Nexstar Media Group Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Friday, May 29th. Shareholders of record on Friday, May 15th will be paid a $1.86 dividend. The ex-dividend date is Friday, May 15th. This represents a $7.44 dividend on an annualized basis and a yield of 4.0%. Nexstar Media Group's payout ratio is 159.66%.
Hedge Funds Weigh In On Nexstar Media Group
Institutional investors and hedge funds have recently bought and sold shares of the stock. Torren Management LLC bought a new position in Nexstar Media Group during the fourth quarter worth $28,000. Measured Wealth Private Client Group LLC bought a new position in Nexstar Media Group during the third quarter worth $28,000. Root Financial Partners LLC bought a new position in Nexstar Media Group during the third quarter worth $31,000. WPG Advisers LLC increased its position in Nexstar Media Group by 65.7% during the fourth quarter. WPG Advisers LLC now owns 179 shares of the company's stock worth $36,000 after acquiring an additional 71 shares during the period. Finally, Hantz Financial Services Inc. increased its position in Nexstar Media Group by 164.5% during the third quarter. Hantz Financial Services Inc. now owns 201 shares of the company's stock worth $40,000 after acquiring an additional 125 shares during the period. Institutional investors own 95.30% of the company's stock.
Analyst Ratings Changes
A number of research firms have issued reports on NXST. Guggenheim lifted their target price on shares of Nexstar Media Group from $250.00 to $290.00 and gave the company a "buy" rating in a research note on Friday, February 27th. Deutsche Bank Aktiengesellschaft reduced their target price on shares of Nexstar Media Group from $270.00 to $255.00 and set a "buy" rating for the company in a research note on Monday, May 11th. Citigroup upgraded shares of Nexstar Media Group from a "neutral" rating to a "buy" rating and reduced their target price for the company from $252.00 to $220.00 in a research note on Friday, April 10th. Wall Street Zen upgraded shares of Nexstar Media Group from a "hold" rating to a "buy" rating in a research note on Saturday, May 16th. Finally, Wells Fargo & Company reduced their target price on shares of Nexstar Media Group from $290.00 to $253.00 and set an "overweight" rating for the company in a research note on Friday, May 8th. One research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Buy" and a consensus target price of $259.67.
Check Out Our Latest Report on Nexstar Media Group
More Nexstar Media Group News
Here are the key news stories impacting Nexstar Media Group this week:
- Neutral Sentiment: Multiple Nexstar executives and insiders, including Brett Jenkins, Michael Biard, Lee Ann Gliha, Andrew Alford, Sean Compton, Dana Zimmer, Lindsey Knapp, Dan Lanzano, Rachel Morgan, Blake Russell, and Gary Weitman, sold shares at $187.32 as part of equity vesting tax obligations. SEC filing reference
- Positive Sentiment: Several analysts remain constructive on NXST, with recent upgrades and raised price targets helping offset some of the insider-sale concern. MarketBeat NXST page
- Negative Sentiment: The cluster of insider sales may create a short-term overhang, since investors often view repeated insider disposals as a cautious signal even when they are non-discretionary. SEC filing reference
About Nexstar Media Group
(
Get Free Report)
Nexstar Media Group, Inc is a diversified American media company engaged primarily in the ownership, operation and strategic affiliation of local television stations, digital platforms and cable networks. The company provides a range of broadcast content, including local news, sports coverage, entertainment programming and syndicated shows, reaching audiences in more than 100 television markets across the United States.
Founded in 1996 by entrepreneur Perry Sook and headquartered in Irving, Texas, Nexstar has built its presence through organic growth and a series of high-profile acquisitions.
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